Question: Equity financing and long-term borrowings are considered financing requirements and used for buying assets. True/ False Overhead unit managers usually prepare flexible or variable budgets.

Equity financing and long-term borrowings are considered financing requirements and used for buying assets. True/ False

Overhead unit managers usually prepare flexible or variable budgets. True/ False

“What is the aging of our trade receivables” could be considered a statement of income planning assumption. True/ False

Effectiveness indicators measure the goal-related accomplishments of an organization. True/ False

Incremental budgeting has two key flaws: first, it is difficult to relate the budget to specific goals and plans and second, corporate priorities may get lost in the shuffle. True/ False

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